Advicent Adds DOL Education Center to its Advisor Briefcase® Marketing Communications Tool

Advicent Adds DOL Education Center to its Advisor Briefcase® Marketing Communications Tool
18.07.2016 01:15 pm

Advicent Adds DOL Education Center to its Advisor Briefcase® Marketing Communications Tool

IT Innovations , Infrastructure

With the DOL fiduciary rule taking shape and many companies creating action plans to implement the anticipated impact, Advicent is building a DOL Education Center in Advisor Briefcase, a powerful marketing communications tool, which will be released to users in the near future. This education center includes content such as an overview of the DOL Fiduciary Rule; shorter advisor items including topics around collecting commissions, potential changes to the rule, and anticipated enforcement of the DOL Rule; and content to assist in positioning the value of financial planning that advisors can leverage when educating clients on the impact of the rule – thus abiding by the new fiduciary standard set by the DOL.

The DOL fiduciary rule gets to the core issue for investors: trust. Trust remains one of the biggest reasons investors pick their advisor. There are many smart, engaged, and honest advisors; however, a small fraction make headlines for the wrong reasons. Thus, the DOL seeks to tighten the definition of an advisor’s fiduciary standard, which will increase the responsibility of the advisor to act in the best interest of the client. This law is designed to validate the advisor’s advice, which can increase the trust investors have in financial advisors. In concept, this is good; however, the implications of how it works can be messy and confusing.

This change in fiduciary responsibility is forcing the industry to change compensation, workflow, processes, and advice in a hurry. This will require clear and concise communication to educate advisors and clients. Using Advisor Briefcase, as well as a comprehensive and collaborative technology in the planning process, allows firms to build a tremendous amount of trust in advisor-client relationships. This will offer clarity into the changes ahead and reinforce the fact that the advisor puts the client’s best interests first.

“The DOL fiduciary rule is changing the way many financial service professionals provide advice and earn revenue,” said Phil Cunningham, chief executive officer at Advicent. “The Advicent product suite helps advisors justify their recommendations through our industry leading calculations and enables everyone to understand their financial future through the new education center in Advisor Briefcase.”

Related News

Kickstart opens for applications for a new cohort of later-stage tech startups

Kickstart, one of Europe’s largest innovation platforms, is welcoming applications for the fifth iteration of its annual B2B scale-up programme aimed at late-stage start-ups... Read more »

Sinch and Wavy Join Forces to Accelerate Innovation and Drive Growth in Latin America

Sinch AB (publ), a global leader in cloud communications for mobile customer engagement, has agreed to combine with Wavy to advance innovation globally and to build a leading... Read more »

Businesses can now apply for a Monzo Business Account

Monzo has announced today that it is launching free and premium business accounts. From today, businesses can apply for a Monzo Business Account for £5 per month or a Business... Read more »

Bitfinex & Tether CTO to reveal "The Story of Tether” during an industry-first keynote at the CryptoCompare Digital Asset Summi

Tether has fuelled the growth of digital assets since it was founded in 2014 and today accounts for over 75% of all Bitcoin trading volume. At London’s ... Read more »

Abacus Group Announces Record Revenue and Client Growth in 2019

 Abacus Group, a leading provider of hosted IT solutions and services for alternative investment firms, today announced record accomplishments in 2019, as the company reached... Read more »

Reshaping the Financial Sector of the Middle East with Finnovex Middle East 2020

Advanced technology and innovation have forever disrupted business operations of the past. With changing trends and customer expectation, product offerings, service and... Read more »

Magazine
ALL
Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App
Financial It Youtube channel